Arlo Technologies (NYSE:ARLO) CEO Sells $741,340.60 in Stock

Arlo Technologies, Inc. (NYSE:ARLO) CEO Matthew Blake Mcrae sold 58,604 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $12.65, for a total transaction of $741,340.60. Following the completion of the sale, the chief executive officer directly owned 957,252 shares in the company, valued at approximately $12,109,237.80. This trade represents a 5.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matthew Blake Mcrae also recently made the following trade(s):

• On Friday, February 6th, Matthew Blake Mcrae sold 95,326 shares of Arlo Technologies stock. The stock was sold at an average price of $12.29, for a total transaction of $1,171,556.54.
• On Thursday, February 5th, Matthew Blake Mcrae sold 18,085 shares of Arlo Technologies stock. The shares were sold at an average price of $12.38, for a total transaction of $223,892.30.
• On Friday, January 30th, Matthew Blake Mcrae sold 35,482 shares of Arlo Technologies stock. The shares were sold at an average price of $12.81, for a total transaction of $454,524.42.
• On Friday, January 9th, Matthew Blake Mcrae sold 90,089 shares of Arlo Technologies stock. The stock was sold at an average price of $13.69, for a total transaction of $1,233,318.41.
• On Monday, December 1st, Matthew Blake Mcrae sold 257,242 shares of Arlo Technologies stock. The stock was sold at an average price of $14.28, for a total transaction of $3,673,415.76.

Arlo Technologies Trading Up 3.2%

NYSE:ARLO traded up $0.39 during trading hours on Friday, hitting $12.41. The company’s stock had a trading volume of 1,512,499 shares, compared to its average volume of 1,254,114. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $19.94. The stock has a market capitalization of $1.32 billion, a P/E ratio of 413.80 and a beta of 1.66. The stock has a fifty day moving average of $13.69 and a 200-day moving average of $15.77.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Arlo Technologies had a return on equity of 2.00% and a net margin of 0.84%.The business had revenue of $139.53 million during the quarter, compared to analysts’ expectations of $138.69 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARLO. Weiss Ratings reiterated a “hold (c-)” rating on shares of Arlo Technologies in a research note on Monday, December 29th. Wall Street Zen raised shares of Arlo Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. BWS Financial reiterated a “buy” rating and set a $26.00 price target on shares of Arlo Technologies in a research note on Tuesday, November 11th. Finally, Zacks Research cut shares of Arlo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Hedge Funds Weigh In On Arlo Technologies

A number of institutional investors have recently modified their holdings of ARLO. Legato Capital Management LLC raised its position in Arlo Technologies by 12.0% in the 4th quarter. Legato Capital Management LLC now owns 108,725 shares of the company’s stock valued at $1,521,000 after purchasing an additional 11,615 shares during the last quarter. GSA Capital Partners LLP increased its stake in Arlo Technologies by 557.1% in the fourth quarter. GSA Capital Partners LLP now owns 141,372 shares of the company’s stock valued at $1,978,000 after purchasing an additional 119,857 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Arlo Technologies by 3.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,268 shares of the company’s stock valued at $340,000 after buying an additional 800 shares during the last quarter. Hosking Partners LLP boosted its stake in shares of Arlo Technologies by 4.9% during the fourth quarter. Hosking Partners LLP now owns 643,626 shares of the company’s stock worth $9,004,000 after buying an additional 29,997 shares during the period. Finally, F m Investments LLC acquired a new stake in shares of Arlo Technologies during the fourth quarter worth about $455,000. 83.18% of the stock is owned by institutional investors and hedge funds.

About Arlo Technologies

Arlo Technologies, Inc (NYSE: ARLO) is a provider of smart home security products and services designed for residential and small business customers. The company offers a portfolio of wireless and Wi-Fi-enabled security cameras, video doorbells, smart lighting solutions, and associated accessories. Arlo integrates advanced video analytics, motion detection, cloud storage, and two-way audio capabilities to deliver end-to-end security and monitoring solutions accessible through mobile applications and web interfaces.

Founded as a division of Netgear, Inc in 2014 and spun off as an independent public company in 2018, Arlo Technologies has established a presence in North America, Europe, Australia and parts of Asia.